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Financial Development, Economic Growth and Banker Sector Controls: Evidence from India

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Author Info
Demetriades, Panicos O
Luintel, Kul B

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Abstract

This paper uses newly collected data from the Reserve Bank of India to examine the effects of various types of banking sector controls on the process of financial deepening. With the exception of a lending rate ceiling, these controls are found to influence financial deepening negatively, independently of the well-known effect of the real interest rate. Exogeneity tests suggest that financial deepening and economic growth are jointly determined. Thus, policies which affect financial deepening may also have an influence on economic growth. Copyright 1996 by Royal Economic Society.

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Publisher Info
Article provided by Royal Economic Society in its journal The Economic Journal.

Volume (Year): 106 (1996)
Issue (Month): 435 (March)
Pages: 359-74
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Handle: RePEc:ecj:econjl:v:106:y:1996:i:435:p:359-74

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  2. AL-ZUBI, Khaled & AL-RJOUB,Samer & ABU-MHAREB,E, 2006. "Financial Development And Economic Growth: A New Empirical Evidence From The Mena Countries, 1989-2001," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 6(3). [Downloadable!] (restricted)
  3. Muhammad Arshad Khan & Abdul Qayyum, 2006. "Trade Liberalisation, Financial Sector Reforms, and Growth," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 45(4), pages 711-731. [Downloadable!]
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  4. Joachim Voth & Peter Temin, 2005. "Financial Repression in a Natural Experiment: Loan Allocation and the Change in the Usury Laws in 1714," Economics Working Papers 858, Department of Economics and Business, Universitat Pompeu Fabra. [Downloadable!]
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  5. Jean-Bernard Chatelain & Bruno Amable, 2001. "Can financial infrastructures foster economicdevelopment?," Post-Print halshs-00112551_v1, HAL. [Downloadable!]
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  6. Kamat, Manoj & Kamat, Manasvi, 2007. "The New Information Age & the Stock Market Growth Puzzle," MPRA Paper 5158, University Library of Munich, Germany. [Downloadable!]
  7. Bhide, M G & Prasad, A & Ghosh, Saibal, 2001. "Emerging Challenges in Indian Banking," MPRA Paper 1711, University Library of Munich, Germany. [Downloadable!]
  8. Renu Kohli & Kenneth Kletzer, 2001. "Financial Repression and Exchange Rate Management in Developing Countries: Theory and Empirical Evidence for India," IMF Working Papers 01/103, International Monetary Fund. [Downloadable!]
  9. Felix Eschenbach, 2004. "Finance and Growth: A Survey of the Theoretical and Empirical Literature," Tinbergen Institute Discussion Papers 04-039/2, Tinbergen Institute. [Downloadable!]
  10. Peter Lawrence, 2003. "Fifty Years of Finance and Development: Does Causation Matter?," Keele Economics Research Papers KERP 2003/07, Centre for Economic Research, Keele University. [Downloadable!]
  11. Kamat, Manoj & Kamat, Manasvi, 2007. "Does Financial Growth lead Economic Performance in India? Causality-Cointegration using Unrestricted Vector Error Correction Models," MPRA Paper 6154, University Library of Munich, Germany. [Downloadable!]
  12. James B. Ang, 2007. "A Survey Of Recent Developments In The Literature Of Finance And Growth," Monash Economics Working Papers 03/07, Monash University, Department of Economics. [Downloadable!]
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  13. Jordan Shan & Alan Morris, 2002. "Does Financial Development 'Lead' Economic Growth?," International Review of Applied Economics, Taylor and Francis Journals, vol. 16(2), pages 153-168, April. [Downloadable!] (restricted)
  14. Philip Arestis & Panicos Demetriades & Bassam Fattouh, 2002. "Financial Policies and the Aggregate Productivity of the Capital Stock: Evidence from Developed and Developing Economies," Economics Working Paper Archive 362, Levy Economics Institute, The. [Downloadable!]
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  15. James B. Ang, 2008. "Finance And Inequality: The Case Of India," CAMA Working Papers 2008-18, Australian National University, Centre for Applied Macroeconomic Analysis. [Downloadable!]
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  16. Daniel Reichstul & Gilberto Tadeu Lima, 2005. "Crédito Bancário E Atividade Econômica: Evidências Empíricas Para A Produção Industrial No Estado De São Paulo," Anais do XXXIII Encontro Nacional de Economia [Proceedings of the 33th Brazilian Economics Meeting] 119, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics]. [Downloadable!]
  17. Santonu Basu, 2006. "Structural Problems in Financing Development: Issues Relating to India," International Review of Applied Economics, Taylor and Francis Journals, vol. 20(1), pages 85-101, January. [Downloadable!] (restricted)
  18. Khan, Arshad & Qayyum, Abdul & Sheikh, Saeed, 2005. "Financial Development and Economic Growth: The Case of Pakistan," MPRA Paper 2145, University Library of Munich, Germany, revised 2005. [Downloadable!]
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  19. Loayza, Norman & Palacios, Luisa, 1997. "Economic reform and progress in Latin America and the Caribbean," Policy Research Working Paper Series 1829, The World Bank. [Downloadable!]
  20. Bas Aarle & Nina Budina, 1997. "Financial repression, money growth, and seignorage: The Polish experience," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 133(4), pages 683-707, December. [Downloadable!] (restricted)
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